Oil output tragically slides to less than 100.000 bpd in Libya

A general view of the Sirte Oil Company in Brega. [REUTERS]The Libyan National Oil Corporation (NOC) said the levels of oil production are down to 95,837 barrels per day as of March 22, a statement on the state-owned company’s Facebook page said on Tuesday.

The Libyan NOC added that the dramatic decline in oil production had resulted in financial losses exceeding $3.5 billion since January 17.

The Libyan oil output and exports had been blockaded by Khalifa Haftar’s loyalists who demanded fair distribution of wealth and jobs in return of reopening.

However, the move was seen as a way to gain more power by Haftar as he was going to Berlin conference at the time.